In brief: Developer indicted | NBC Tower | CHA's former HQ

Grand jury indicts developer

Libertyville developer Forrest David Laidley was indicted Wednesday by a federal grand jury on charges of fraud in connection with what the U.S. Attorney in Chicago says was a scheme to "fraudulently obtain, retain and use more than $10 million from investors and financial institutions." Mr. Laidley sold interests in limited partnerships and short-term, high-interest promissory notes to the public, according to a release from the U.S. Attorney's office. Mr. Laidley, 65, owned and operated Forrest Properties Inc., a real estate development firm in the northern suburbs that is now dissolved. According to the release, through the firm he obtained money from investors by "misrepresenting the expected return on investments, the risks associated with investments, his ownership of property, his ownership of loan collateral, his financial condition, the status of investments and the use of proceeds obtained." Investors in limited partnerships and promissory note buyers lost more than $8 million as a result of the defendant's scheme, according to the indictment. Messages left Thursday morning for lawyers who have represented Mr. Laidley on other matters were not returned.

2 office-condo sales at former CHA headquarters

Two office condominium sales totaling almost 40,000 square feet have been completed at the former Chicago Housing Authority headquarters at 626 W. Jackson Blvd. in the West Loop. Non-profit job training and placement agency Cara Program bought the second and third floors, totaling 29,736 square feet, for $6.7 million. Cara financed the deal with an almost $5.2-million loan from Chicago-based ShoreBank. In the other sale, Dearborn Capital Management LLC, a private investment planning company, paid $1.75 million for 9,500 square feet on the sixth floor. Cara Program and Dearborn Capital both plan to move later this year to the building, which a joint venture of Sterling Bay Cos. and Deitcher Group LLC bought in 2007.

Manufacturer to expand in move to Des Plaines

Leggett & Platt Inc., which makes parts for furniture and bedding, plans to move its local manufacturing operation next month from Skokie to Des Plaines. Carthage, Mo.-based Leggett has leased 53,740 square feet at 1796 Sherwin Ave. in northwest suburban Des Plaines, according to Colliers Bennett & Kahnweiler Inc., which represented the company. Leggett wanted to be closer to O'Hare International Airport and have more office space, Rosemont-based Colliers says. Leggett currently has 45,000 square feet at 3712 Jarvis Ave. in Skokie, according to Colliers Senior Vice-president Christopher T. Volkert. Australia-based Mirvac Group, which owns the 95,220-square-foot Des Plaines building, was represented by Oakbrook Terrace-based NAI Hiffman.

Caterer to use NBC Tower restaurant space

A caterer is taking over the closed restaurant space in NBC Tower for private banquets and catering. James Boardman, managing partner of Taste America Restaurant Group Ltd., has taken over the 8,000-square-foot space, which the former restaurant's owner put up for sublease after closing the eatery, Amira, in March. Mr. Boardman says the building owner, Delray Beach, Fla.-based Sunbelt Management Co., wants to generate revenue from space that is sitting empty. Related story: Restaurant at NBC Tower closes

InterContinental O'Hare, union in contract

The InterContinental Chicago O'Hare has signed its first labor contract with Unite Here Local 450 that covers about 100 workers at the Rosemont hotel, which opened last September. The contract covers housekeepers, banquet service staff, culinary workers and other employees, according to a union news release. The deal guarantees substantial wage increases and benefits, including free health insurance, the release said. It expires in December 2012, according to Mike Somone, a business representative and organizer for Local 450. Harp Group Inc., an Oak Brook-based hotel investor, developed the 556-room hotel at 5300 River Road.